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Yes, that subtraction is the required per the Final Regulations issued on January 15, 2019. Also required to be subtracted are the deductible portion of self-employment taxes and the deduction for self-employed health insurance. The instructions for Form 1040 were written before the regulations were finalized and are (purposefully?) vague as to what Qualified Business Income is with respect to a sole-proprietor.
Yes, that subtraction is the required per the Final Regulations issued on January 15, 2019. Also required to be subtracted are the deductible portion of self-employment taxes and the deduction for self-employed health insurance. The instructions for Form 1040 were written before the regulations were finalized and are (purposefully?) vague as to what Qualified Business Income is with respect to a sole-proprietor.
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